Today is the biggest day yet for the crypto world
Good morning! This Wednesday, why Coinbase's direct listing is such a big deal for the crypto industry, a new bill that would curb the power of NDAs is getting traction in tech, Asana is launching a partner program and Epic got a huge influx of cash.
The whole tech world is watching Coinbase today. The company is going public through a direct listing, is set to be valued at upwards of $65 billion (though some people think it'll be way upwards of that), and might take its place on the Mount Rushmore of Crypto Moments.
The crypto market is practically bursting with anticipation, too. Bitcoin and Ethereum both hit record prices yesterday, and the coins representing Binance and other exchanges were also spiking ahead of the listing. Even Dogecoin is spiking!
Coinbase's tie to cryptocurrencies is a double-edged sword, though. Fears of crypto regulations — or even an outright ban — are creeping around the industry, and a Bitcoin crash would almost certainly mean a Coinbase crash. (Coinbase is working on diversifying its features to make sure that's not the case, but for now it seems to be.)
There are Coinbase downers out there, but they're few and far between. Almost everyone I talked to thinks its debut is going to be huge. Or at least is hoping so.
NDAs are enabling workplace abuse and need to be stopped, former Pinterest employee Ifeoma Ozoma said. "Regardless of the law, business leaders invested in running ethical companies should reject the use of these agreements to hide abusive behavior, and the shareholders they're beholden to should demand it," she wrote in a New York Times op-ed.
Ozoma is now co-sponsoring the Silenced No More Act, which would allow California workers to break their NDAs in order to discuss harassment and discrimination.
Companies often say they see NDAs as a tool to protect trade secrets, while employees say they're prevented from speaking out about the industry's problems. It's possible for these agreements to do right by all parties, and companies need to figure out how.
After being alerted to a misinformation campaign from the Honduran government, The Guardian reported, Facebook's Guy Rosen "referred to the return of the Honduras campaign as a 'bummer' in an internal discussion in December 2019 but emphasized that the company needed to prioritize influence operations that targeted the U.S. or western Europe, or were carried out by Russia or Iran."
The clear message: Facebook cares more about some countries than others. You know who that doesn't surprise? Jillian C. York, an author and activist whose new book, "Silicon Values: The Future of Free Speech Under Surveillance Capitalism," digs into all the ways Facebook and others police — and don't — what's happening on their platforms.
So why aren't some countries considered as important? Well, York joined the Source Code podcast to talk about all things online free speech, including why tech companies don't think globally enough:
Open-source computing is going gangbusters — and that's good news for those seeking better and stronger security in the enterprise. With the growth of hardware platforms, ISVs and CSPs using trusted execution environments to protect data in use, open source-licensed projects are a natural way to encourage experimentation, learning and adoption.
On Protocol | Enterprise: Asana is launching a partner program, and Billy Blau said it's meant to make work sane again:
After the blowback to its cryptocurrency tests, Signal's Jun Harada explained why the company is getting into payments:
What's better than government email systems? Gmail, said British politician Tom Tugendhat:
LG-Magna could be the Apple Car supplier. The Korea Times reported the two sides are near a deal to handle production for early prototypes and testing models.
Apple is having an event next Tuesday. It's dubbed "Spring Loaded," which either means we're about to get a lot of new products (Spring, loaded) or an Apple Slinky (spring-loaded). Could be either, really.
Metaverse alert: Epic raised $1 billion, and is now valued at $28.9 billion. Guess nobody's worried about that Apple lawsuit.
Diogo Rau is the new chief information and digital officer at Lilly, after 10 years as the head of engineering for Apple Retail.
Katrina Lake is stepping down as Stitch Fix's CEO, becoming executive chairwoman instead. Elizabeth Spaulding will replace her.
Toshiba CEO Nobuaki Kurumatani suddenly resigned, raising questions as to what will happen with CVC's $20 billion bid for the company.
Squarespace is thinking about a direct listing, Bloomberg reported, which could happen later this year.
I mean, you'd assume the former CEO of Nintendo would have a great personal site. And indeed, the site for The Yamauchi No. 10 Family Office, which manages the assets of the late Hiroshi Yamauchi, is almost certainly the video game-iest financial services site you'll ever see. Reddit loves it, and so do I.
An increasing number of companies see value in using cloud services for some of their application needs, but need to also manage their own computing resources for a variety of reasons. How should companies think about their hybrid cloud strategies? Our panel of experts will break down the current state of the hybrid market and the future of its trajectory.
Today's Source Code was written by David Pierce, with help from Anna Kramer and Shakeel Hashim. Thoughts, questions, tips? Send them to firstname.lastname@example.org, or our tips line, email@example.com. Enjoy your day; see you tomorrow.